Nvidia's Market Value Briefly Breaches $2 Trillion

Nvidia achieved a significant milestone to end last week as its market value soared past $2 trillion, following the chipmaker's stellar earnings report that propelled Wall Street into an artificial intelligence-induced frenzy, as reported by Krystal Hur for CNN.

Nvidia's recent feat comes after it surpassed Amazon and Alphabet in market value earlier this month, securing its position as the third-largest company on Wall Street. I Photo: Kevin McCarthy Flickr

However, Nvidia's stock later retraced some of its gains, causing its value to dip below the $2 trillion mark by the market's close.

The surge added an astonishing $273 billion to its market capitalization on Thursday, marking the largest single-day increase for any company on record, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

This surge followed Nvidia's report of a 769% annual increase in fourth-quarter profit and a 580% rise in full-year profits from the previous year, surpassing analysts' expectations.

Only a select few companies, including Apple and Microsoft, have ever reached the $2 trillion milestone.

Nvidia's recent feat comes after it surpassed Amazon and Alphabet in market value earlier this month, securing its position as the third-largest company on Wall Street, behind Microsoft and Apple.

The company achieved a $1 trillion market cap in 2023, approximately 24 years after its initial public offering. Its remarkable growth over the past year coincided with a surge in artificial intelligence enthusiasm on Wall Street, contributing to a robust bull market.

The S&P 500 and Dow Jones Industrial Average indexes closed at record highs on Thursday, driven by Nvidia's exceptional earnings report, as Clare Duffy also reported for CNN.

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